Raymond James Financial Inc. Takes Position in Philip Morris International Inc. (NYSE:PM)

Raymond James Financial Inc. purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,339,130 shares of the company’s stock, valued at approximately $522,214,000.

Other hedge funds have also modified their holdings of the company. NewSquare Capital LLC lifted its holdings in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after buying an additional 72 shares during the period. Valley Wealth Managers Inc. lifted its holdings in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares during the period. Dunhill Financial LLC lifted its holdings in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Philip Morris International in the fourth quarter valued at approximately $33,000. Finally, Sierra Ocean LLC acquired a new position in Philip Morris International in the fourth quarter valued at approximately $37,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. Barclays increased their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Stifel Nicolaus increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, UBS Group increased their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $144.56.

Insider Buying and Selling

In related news, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total value of $1,486,700.00. Following the completion of the transaction, the insider now owns 106,244 shares of the company’s stock, valued at approximately $15,795,295.48. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Yann Guerin sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now directly owns 30,308 shares of the company’s stock, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,143 shares of company stock worth $19,092,846 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Philip Morris International Stock Down 0.5 %

Shares of NYSE:PM opened at $153.22 on Thursday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $159.51. The company’s fifty day simple moving average is $134.82 and its 200 day simple moving average is $128.60. The firm has a market cap of $238.23 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.52%. Philip Morris International’s payout ratio is 119.73%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.